The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by National Pension Service

National Pension Service cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 15.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,307,145 shares of the bank’s stock after selling 246,964 shares during the quarter. National Pension Service owned 0.17% of Bank of New York Mellon worth $58,691,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its position in shares of Bank of New York Mellon by 97.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Exos TFP Holdings LLC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $32,000. Sandy Spring Bank purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $36,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $45,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $52,000. 81.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on BK shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $43.00 to $44.00 in a research report on Wednesday, July 19th. Citigroup dropped their target price on shares of Bank of New York Mellon from $58.00 to $55.00 in a research report on Wednesday, July 19th. StockNews.com started coverage on shares of Bank of New York Mellon in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Evercore ISI dropped their target price on shares of Bank of New York Mellon from $49.00 to $46.00 in a research report on Friday, May 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $52.90.

Insiders Place Their Bets

In other news, EVP J Kevin Mccarthy sold 35,000 shares of Bank of New York Mellon stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $46.33, for a total value of $1,621,550.00. Following the sale, the executive vice president now owns 98,102 shares of the company’s stock, valued at $4,545,065.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP J Kevin Mccarthy sold 35,000 shares of Bank of New York Mellon stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $46.33, for a total value of $1,621,550.00. Following the sale, the executive vice president now owns 98,102 shares of the company’s stock, valued at $4,545,065.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 14,045 shares of Bank of New York Mellon stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $45.64, for a total transaction of $641,013.80. Following the completion of the sale, the insider now directly owns 23,816 shares in the company, valued at approximately $1,086,962.24. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Up 0.3 %

Shares of Bank of New York Mellon stock opened at $44.50 on Thursday. The Bank of New York Mellon Co. has a 1 year low of $36.22 and a 1 year high of $52.26. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $34.65 billion, a P/E ratio of 12.97, a PEG ratio of 1.15 and a beta of 1.09. The company’s fifty day moving average is $44.59 and its two-hundred day moving average is $44.67.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, July 18th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.16. Bank of New York Mellon had a net margin of 10.95% and a return on equity of 11.88%. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period last year, the firm posted $1.15 EPS. Bank of New York Mellon’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts forecast that The Bank of New York Mellon Co. will post 4.87 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Friday, July 28th were given a dividend of $0.42 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.37. This represents a $1.68 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Thursday, July 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 48.98%.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.